Welfare Cost of Fluctuations: when Labor Market Search Interacts with Financial Frictions
We provide a quantitative assessment of welfare costs of fluctuations in a search model with financial frictions. The matching process in the labor market leads positive shocks to reduce unemployment less than negative shocks increase it. We show that the magnitude of this non-linearity is magnified...
|Place of publication:||
|Data of publication:||2014-06|
|Online Access:||available in Bonn?|
|Database:||Hyper Article en Ligne (HAL)
Hyper Article en Ligne (HAL) (Open Access)
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